Sahil Barua, the founder and CEO of Delhivery, has tendered his resignation as independent director of Swiggy and will be stepping down from the company’s board after the close of business hours on April 11, the food delivery company informed the stock exchanges.
The decision comes days after Delhivery acquired rival firm Ecom Express in a firesale to expand operations.
Barua has resigned “...due to increased work commitment”, Swiggy’s letter to the exchanges said on April 11.
“I find myself unable to dedicate the necessary time and attention required to fulfill my responsibilities as an Independent Director on your Board….I believe it would be in the best interest of the company for me to step down and allow someone who can devote the requisite time and focus to take on this responsibility,” Barua said in his resignation letter.
Barua was one of the first independent members of Swiggy’s board, around two years ago when Swiggy was preparing for its IPO “and has played a meaningful role in the company’s journey as we’ve scaled and transitioned into the public markets,” said Anand Kripalu, Chairperson of the Swiggy Board.
Delhivery's Barua has stepped down on the same day when Moneycontrol reported that Airtel's Akhil Gupta has joined the company's board as an independent director.
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